California State Teachers Retirement System Sells 10,927 Shares of Avista Corp (AVA)
California State Teachers Retirement System lowered its position in Avista Corp (NYSE:AVA) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,125 shares of the utilities provider’s stock after selling 10,927 shares during the period. California State Teachers Retirement System owned about 0.16% of Avista worth $5,339,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Riverhead Capital Management LLC lifted its position in Avista by 38.8% in the second quarter. Riverhead Capital Management LLC now owns 2,498 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 698 shares during the period. PNC Financial Services Group Inc. lifted its position in Avista by 28.8% in the second quarter. PNC Financial Services Group Inc. now owns 2,678 shares of the utilities provider’s stock valued at $114,000 after purchasing an additional 599 shares during the period. Advisor Group Inc. lifted its position in Avista by 16.3% in the second quarter. Advisor Group Inc. now owns 2,883 shares of the utilities provider’s stock valued at $123,000 after purchasing an additional 403 shares during the period. CWH Capital Management Inc. acquired a new stake in Avista in the second quarter valued at about $132,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Avista by 8.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,145 shares of the utilities provider’s stock valued at $134,000 after purchasing an additional 244 shares during the period. Hedge funds and other institutional investors own 77.33% of the company’s stock.
Avista Corp (NYSE AVA) opened at $51.49 on Tuesday. Avista Corp has a 1-year low of $37.78 and a 1-year high of $52.83. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.47 and a quick ratio of 0.37. The stock has a market cap of $3,316.74, a PE ratio of 25.87 and a beta of 0.42.
In other news, insider Jason R. Thackston sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $51.58, for a total transaction of $77,370.00. Following the completion of the transaction, the insider now directly owns 22,974 shares of the company’s stock, valued at approximately $1,184,998.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director R John Taylor sold 932 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $51.94, for a total transaction of $48,408.08. Following the transaction, the director now directly owns 655 shares of the company’s stock, valued at $34,020.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,632 shares of company stock valued at $396,130. 1.10% of the stock is currently owned by corporate insiders.
AVA has been the subject of a number of recent analyst reports. ValuEngine downgraded shares of Avista from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. KeyCorp reaffirmed a “hold” rating on shares of Avista in a report on Friday, October 20th. Finally, Zacks Investment Research raised shares of Avista from a “sell” rating to a “hold” rating in a report on Monday, October 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $47.75.
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Avista Company Profile
Avista Corporation is an electric and natural gas utility company. The Company operates through two segments: Avista Utilities, and Alaska Electric Light and Power Company (AEL&P). The Company’s regional services include government and higher education, medical services, retail trade and finance. The Company’s businesses also include sheet metal fabrication, venture fund investments, real estate investments, a company that explores markets that could be served with liquefied natural gas (LNG), as well as certain other investments of Avista Capital, which is a subsidiary of the Company.
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